Latest news with #BNB
Yahoo
9 hours ago
- Business
- Yahoo
BNB Drops After Failed Breakout, Key Support Holds as Corporate Accumulation Grows
BNB's price slipped nearly 1.5% in volatile trading over the last 24-hour period to trade recently around $765. It's down from a near $780 high earlier this week. The move carved out a $34.87 range in a short window as institutional selling hit the market and buyers scrambled to defend key support. Trading volume spiked to nearly 12,000 tokens during a single hour, pointing to a wave of liquidation near the $760 psychological level, according to CoinDesk Research's technical analysis model. The token's sluggish performance saw solana's sol (SOL) surpass BNB's market capitalization after rising 3.5% in the last 24 hours. SOL now has a $109.3 billion market cap, compared to BNB's $106.6 billion. Traders watching the $770 resistance zone saw rejection candles form early in today's trading session, often a sign of big market participants offloading positions. In response, bulls staged a defense at $745.75, which led to a short-term recovery. In BNB-related news, Binance announced a temporary pause in BNB Smart Chain withdrawals on July 23 for wallet maintenance, which is expected to last half an hour. Meanwhile, blockchain infrastructure firm Nano Labs said it increased its BNB holdings to 120,000 tokens, valued at around $90 million. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
Kraken to Support Biotech Firm Windtree's $200M BNB Treasury Play
Nasdaq-listed biotech firm Windtree Therapeutics has entered into a strategic partnership with crypto exchange Kraken to manage its BNB-focused crypto treasury program, the companies announced Tuesday. The deal will see Kraken handle custody, trading and over-the-counter (OTC) execution of BNB assets for Windtree. So far $60 million has been raised, and another $140 million could be on the cards for the BNB treasury strategy, so potentially a $200 million deal, a Kraken representative said via email. Crypto treasury plays are all rage right now. Windtree says this is the first treasury strategy focused on BNB, the native asset of the Binance Smart Chain. BNB currently ranks among the top five cryptocurrencies by market cap and sees over $2 billion in daily trading volume. Kraken, which serves both institutional and retail clients, will offer Windtree access to secure wallets, deep liquidity, and large-scale execution services. 'We're enabling them to navigate the Binance ecosystem with confidence,' said David Olsson, Kraken's global head of institutional client solutions. BNB is used to pay fees and interact with applications on Binance Smart Chain, which hosts thousands of decentralized apps. By using Kraken's infrastructure, Windtree aims to create a pipeline between traditional shareholders and a DeFi ecosystem that's typically out of reach for U.S. investors. The final agreement will be signed following shareholder and regulatory approval. Sign in to access your portfolio
Time of India
20 hours ago
- Business
- Time of India
Why Bitcoin's Surge to $123,000 Could Be Just the Start? Mudrex Explains
Advertorial Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Solana 17,286.19 ( 4.84 %) Buy Bitcoin 1,03,04,041 ( 1.15 %) Buy XRP 304.23 ( 0.32 %) Buy BNB 66,234 ( -0.12 %) Buy Ethereum 3,20,494 ( -2.48 %) Buy Tired of too many ads? Remove Ads Bitcoin has shattered all-time highs, with the crypto markets soaring to unprecedented levels in the recent past. According to Anush Jafer, Research Expert at Mudrex, this isn't just a fleeting moment but the beginning of a historic crypto on an ETMarkets Livestream, Jafer explained the confluence of factors propelling Bitcoin's surge past $123,000 earlier in July 2025 and why the best is yet to emphasizes that the current crypto landscape is "nothing short of historic." Bitcoin's ascent to new all-time highs, a figure many once dismissed as speculative, is proving the asset class's resilience and entire crypto sector is experiencing serious momentum, with altcoins waking up and capital flowing into diverse sectors. "We are at a tipping point in the market cycle right now," Jafer asserts, backing his claims with historical data, bullish macro news, and on-chain Jafer highlights four primary forces fueling Bitcoin's current performance:The most significant factor is the unprecedented scale of institutional participation, largely thanks to Bitcoin spot ETFs launched last year. These ETFs have attracted over $13.5 billion in net inflows year-to-date, nearly matching 70% of gold ETF inflows in the same timeframe. BlackRock's iShares Bitcoin Trust (IBIT) alone has pulled in close to $15 billion, demonstrating that "Wall Street is coming in with full force." This provides traditional investors a compliant and easy way to access Bitcoin, opening the door for retirement funds, hedge funds, and family ETFs, there's a massive wave of corporate adoption. In Q2 alone, public companies added roughly 159,000 BTC to their balance sheets, worth over $17 billion. This is nearly four times more than the new bitcoins mined in that quarter, creating a classic supply shock. Companies like MicroStrategy, Tesla, and even unexpected players like GameStop and Trump Media are strategically treating Bitcoin as a reserve asset, effectively taking coins off the market for long prices reaching $123,000, large holders, or "whales," are not taking profits. On-chain data reveals that the number of addresses holding 100 Bitcoins or more has hit a new all-time high, increasing from 16,000 to over 18,600 since October last year. These long-term holders and wealthy individuals are "leaning in" and buying more, demonstrating strong conviction in Bitcoin's long-term Regulatory Shift in the US: Jafer considers the "regulation" in the US a "game-changer" that hasn't been fully priced in. The shift under the new administration, marked by "crypto week," saw the passing of three major pro-crypto bills:Provides a clear framework for distinguishing digital assets as commodities or securities, firmly recognizing Bitcoin as a clear rules around reserves and audits for stablecoins, ensuring more liquidity for Bitcoin and other the US government from launching a retail central bank digital currency, signaling a preference for decentralized crypto over state-controlled digital money. This regulatory clarity removes uncertainty and sets a strong precedent for other nations to crypto-specific factors, Jafer points to the global M2 money supply as a quiet but powerful force. M2, a broad measure of money circulating in the global economy, shows a strong correlation with Bitcoin's price, with a lag of roughly 60 to 90 days."Global money printing today equals the Bitcoin rally two-three months later," Jafer explains. With global M2 turning higher in February, Bitcoin's subsequent rally in May and July aligns perfectly with this "textbook macro to BTC playbook."Addressing the common question, "Is it too late to enter?", Jafer stresses the importance of understanding Bitcoin's consistent market cycles. Historically, Bitcoin tends to hit its cycle peak roughly 525 to 546 days after each halving. Given the latest halving in April 2024, this projects a peak between early October to mid-November this year."We're not at the top yet," Jafer clarifies, "but we're absolutely in that acceleration phase." While a correction is inevitable, as markets don't move in a straight line, Jafer believes the increased institutional and corporate involvement could mitigate the severity of past corrections. For investors, this means being in the "heart of the bull run" and still within a "zone of opportunity."While Bitcoin takes the spotlight, Jafer notes that the altcoin space is showing "very, very interesting" signs. Historically, altcoins lag behind Bitcoin during the early stages of a bull market but move fast once they recent slip in Bitcoin dominance (from 66% to 62%) signals that investors are rotating capital into other parts of the market, hinting at the earliest signs of an altcoin season. Jafer advises monitoring key indicators to spot this shift before it fully takes conclusion, Anush Jafer's analysis paints a compelling picture of Bitcoin's current rally. It's not just a surge but a "perfect storm" of rising institutional demand, corporate adoption, whale accumulation, favorable regulation, and supportive macroeconomic trends. For investors, the message is clear: trust the cycle, remain informed, and recognize that despite Bitcoin's impressive highs, this could truly be just the beginning.
Gulf Insider
a day ago
- Business
- Gulf Insider
Binance Launches Sharia-compliant Cryptocurrency Staking
Binance has launched Sharia Earn, the world's first multi-token staking service that complies with Islamic finance principles. The cryptocurrency exchange has received certification from Amanie Advisors, a recognised Sharia advisory firm, for the product. The service addresses a market gap in the $4 trillion Islamic finance sector, where millions of Muslims have been unable to participate in decentralised finance due to religious compliance concerns. Sharia Earn enables users to earn passive income from cryptocurrency investments whilst adhering to Islamic law. The platform launches with support for BNB, ETH, and SOL tokens. Users can earn yield through staking mechanisms that have been reviewed by Sharia scholars and approved under Islamic finance principles. Richard Teng, CEO of Binance, said: 'Our mission has always been to create an inclusive and transparent trading environment. With this product we're empowering the Muslim community and Sharia-focused investors to participate in one of the most exciting financial revolutions of our time. This is more than a product – it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all.' The service operates under Islamic finance guidelines that include risk sharing, wealth circulation, prohibition of interest (riba) and excessive uncertainty (gharar). Amanie Advisors has certified that all funds deployed through the platform are channelled into ventures and assets that are halal (permissible) under Islamic law. Binance has built the service using technology from its existing BNB Locked Products, ETH Staking and SOL Staking infrastructure. The mechanics of each staking method have been reviewed by Sharia scholars and operate through a Wakala agreement structure. Sharia Earn will initially be available in Afghanistan, Algeria, Bangladesh, Bhutan, Egypt, Indonesia, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Morocco, Nepal, Oman, India, Pakistan, Palestinian territories, Qatar, Saudi Arabia, Sri Lanka, Sudan, Tunisia, Turkey (.com), United Arab Emirates, Yemen, Uzbekistan, Kyrgyzstan, Turkmenistan, Azerbaijan, and Tajikistan. This marks Binance's first entry into Islamic finance products and represents the convergence of blockchain technology with Islamic banking principles. The platform aims to provide transparency and halal compliance for cryptocurrency investments in Muslim-majority markets. Also read: Kuwait Bans Cryptocurrency Mining
Time of India
a day ago
- Business
- Time of India
Bitcoin slips below $117,000 amid ETF outflows; All eyes on Fed Chair Powell
Bitcoin slipped below the $117,000 mark on Tuesday amid renewed ETF outflows and growing market caution ahead of a key speech by US Federal Reserve Chair Jerome Powell . As of 11:27 am IST, the world's largest cryptocurrency was trading 1.1% lower at $116,994. Ethereum also lost ground, falling 2.3% to $3,681. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Data Science others Leadership Data Analytics Others Management Data Science Artificial Intelligence Operations Management Technology Finance Public Policy Healthcare CXO Design Thinking MBA Project Management Degree Product Management Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Most major altcoins were in the red, with XRP down 1.4%, BNB 1.5%, Dogecoin 3.4%, Cardano 0.6%, Tron 1.3%, Hyperliquid 7.7%, and Stellar 5.5%. However, Solana defied the trend, rising 5% to hit a five-month high above $200. The latest dip in Bitcoin was attributed to profit-booking and outflows from institutional products. 'Bitcoin slipped below the $117K mark due to ETF outflows,' said Shivam Thakral, CEO of BuyUcoin. 'The single-day outflow from Bitcoin ETFs stood at $131 million, while Ethereum ETFs added $194 million during the same period.' Thakral added that Ethereum's renewed strength has caught the attention of institutional investors, who are anticipating a growth trajectory similar to Bitcoin's. 'With regulatory clarity improving and support from Trump's media corporation and BTC treasuries, the market remains active and optimistic this week,' he noted. Some analysts believe the recent moves point to an emerging altcoin season . Edul Patel, Co-founder and CEO of Mudrex, said capital rotation away from Bitcoin is gaining pace. 'BTC is now range-bound between $116,000 and $120,000, and its dominance has dipped below 60%—the second major decline in three months,' Patel noted. He highlighted Ethereum's growing futures interest, which rose from $18 billion to $28 billion in just one week. 'This shift has pushed the altcoin season index above 50 for the first time since December, with Solana's rally acting as a key indicator of investor appetite beyond BTC,' he added. Sathvik Vishwanath, Co-founder and CEO of Unocoin, said Bitcoin is holding just above key technical support near $116,000. 'If BTC breaks above $122,000, we could see a move toward $125,000–128,000. But a breach below $116,000 could trigger a correction to $112,000,' he said. Vishwanath added that long-term fundamentals remain strong, with some analysts projecting a $200,000 target by year-end, driven by halving-induced supply constraints, global adoption, and favorable regulation. Meanwhile, investor sentiment remains cautious ahead of a speech by Fed Chair Jerome Powell scheduled for 6:30 PM IST today. With just a week before the next FOMC meeting, speculation has intensified about Powell's future, amid reported pressure from Donald Trump. Any surprise signals on interest rates or leadership changes at the Fed could add to market volatility, with crypto assets likely to react sharply to developments. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
